Yesbankanalysis
Is it Yes Bank at Multi-Support Range? Yes Bank the real wealth Destroyer which comes into effect after the corporate governance and NPA issues.
With its mediocre June Quarter Performance stock is all set to make a low.
On Friday, Yes Bank enters below the Half-century zone. The Diamond has started losing its fade. Here's what the technicals has to say..
At the current levels of 48-49. Yes Bank has coming down to its multi-year Support range of 40-43. Below that if it will lead to the crash down to the levels of 20-18 levels (where it has started it journey of bull).
On the Resistance: 58 & 74 plays the road block to its high.
Fundamentally drowning stock looks attractive but management issues leading a bear ride.
(For Risk Takers)
Be Cautious.
Will Yes Bank continue to slide? Open Short Target 60, 50
SL 81 (should close above).
Reason bad debt: other than DHFL, Yes Bank have huge exposure in CG Power. It also has loan exposure to HDIL.
If your idea matches mine open short, I will keep you posted as price moves.
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Yes Bank | Breaks down after consolidationYes Bank breaks down after a brief consolidation. Bear trend still holds strong. 108 was a Bear Flag target in 4Hr chart (attached below for reference). Another possible Bear flag depth (also shown in the chart attached below) then indicated a target of 80. Considering the fresh break downwards the stock is expected to fall to 100 which is very critical. Below which 80 is the price Yes bank could fall to as suggested by Bear Flag formed earlier.
YES BANK | Bear Flag pattern Bearish Flag pattern observed in YES BANK. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of flag is around 40 points considering the price 172 on 10th May. If beginning of the fall @ 201.65 is considered, depth of flag will be around 70 points. With confirmation of pattern occurring at 147.7, Target of the pattern comes in at 108 taking 172 and at 78.5 taking 201.65.
Also note that 132.5 could offer a good support. A target (strictly technical) of 108/78.5 looks extremely bearish.
Footprint of YESBANK with attraction by controllerYes, YesBank is trading @270 nearby that was made high 273.6 which stronger previous resistance.
I don't know buyers will lose control until targets 277.5. : This statement is true, then it will not break 268 also and will continue to move upward.
Don't ignore the R 274.1.
This footprint for a trader, who really like to trade on YESBANK.
Below chart has more deepest research about historical moved was made by its self.